High yield heads for record year
Europe’s high yield market is about to break its all-time issuance record this week. Car parts firm Continental priced a Eu1.25bn bond on Monday –– its second benchmark in one month while packaging firm Ardagh is in the market with a Eu1.7bn euro and dollar bond, bringing acquisition finance back to the high yield market. The bond, likely to be priced later this week, will take this year’s issuance to Eu30bn, surpassing the previous record set in 2006. Read EuroWeek on Friday to find out what is driving the market and whether a bubble is developing.
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